When you don't know, get help!
Often times new businesses make an attempt to start without conducting any research. You either have a passion doing something you love and thought it would be a great idea to turn your passion into a business. Great idea! But, guess what, there are probably at least 50 other people who has the same idea. Entrepreneurship is sort of the in thing now. How do you know if your business type is in demand? How do you know if Smith & Co. is your competitor? How do you know if you would even quality for a business loan if you need it?
Do your research. There are many resources, several for free that can provide assistance to you to get your business started the right way. Check out the Small Business Administration, they offer great services. Utilize SCORE resources offered. SCORE has business consultants who provide free counseling services to new start ups. Download forms, templates, etc. to help you get organized and running your business successfully.
When you fail to plan, you plan to fail! Don't fall into this trap. Set aside time to do your research. You will be better off in the long run.